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– The primary function of Product Control is to work closely with all business stakeholders in achieving the objectives of the firm, in compliance with all relevant regulations and reporting requirements.

– The PC Product Line teams play a key role in ensuring an independent validation, substantiation, and reporting of financial information for a particular FO business unit.

– The responsibility by Line PC Teams for completeness and accuracy of the books and records comprises of:

– P&L and B/S substantiation and reporting (including P&L explain / attribution, reconciliations, P&L commentaries, adherence to accounting principles, etc.).

– Monitoring trading activity for compliance with various related policies.

– Providing management with a technical and operational analysis of the business unit.

– Regular interaction with FO business, Financial Control, Technical Accounting Group, PC Change Management, Technology and other infrastructure areas

Overall purpose of role

– Produce daily desk PL including commentaries, investigate Flash/Formal differences

– Ensure the maintenance of a strong internal control environment. Review key controls: FOBOs, adjustment substantiation and New, Amends & Cancels trades review

Key Accountabilities

Responsible for the line product control of a subset of an asset class, managing a line PC sub-team to fulfill responsibilities below:

Daily Responsibilities:

– Review daily P&L, P&L attribution, P&L commentary, flash to formal differences and manual adjustments

– Develop a sound understanding of risk positions through detailed discussion with traders and risk managers on risk positions so that an appropriate P&L model is deployed with focus on key risk items and market moves

– Perform insightful financial analysis to draw sound conclusions to present to senior stakeholders in onshore PC locations and Financial Control

– Ensure that the team’s KPI and SLA are met.

– Attend to ad hoc queries from the traders and other infrastructure partners relating to trading revenue and balance sheet

– Foster a culture of performance improvement by serving as a lead for recommendations and be accountable for the delivery of qualitative and efficiency benefits from direct reports

Weekly / Monthly Responsibilities

– Review key weekly & monthly MIS to senior management.

– Gain in-depth understanding of provisioning and price testing controls and processes, and perform a detailed review of the working files.

– Engage in detailed discussion with traders, risk managers and Independent Valuation Control team on the results. Liaise with valuation expert on modeling appropriateness and other technical/booking issues.

– Perform detailed review of month end adjustments, and Balance Sheet substantiation


– Ensure the maintenance of a strong internal control environment. Monitor control reports to ensure the accuracy of data for P&L, validation, and downstream processes.

– Raise the team’s level of control awareness. Lead by example and engender a strong control culture.

– Ensure clean audit results from internal and external reviews. Ensure the completeness and accuracy of key stroke documentations for key PC processes, risk assessment, and SOX documentation.

– Projects and Continuous Improvements Identify and drive process re-engineering and constantly challenge status quo for control improvement and process efficiency.

– Motivate and empower the team to deliver continuous improvements.

Stakeholder Management and Leadership

– Responsible for performance and development of the sub-team.

– Responsible for resource allocation within the sub-team and setting clear objectives for both business deliverables and personal development.

– Provide leadership and support/advice to the team. Focus on prioritization and delivery.

– Drive team training.

Decision-making and Problem Solving

Relevant Details updated above

Risk and Control Objective

Person Specification

– Preferably a qualified accountant or similar qualification (CA/ CIMA/ CFA/ Financial Engineering)

– Strong control awareness

– Confident and assertive manner

– Ability to work independently with a spectrum of people from junior finance staff to front office business heads.

– Proactive and change focused with problem-solving ability.

– Mature and able to negotiate through difficult situations

– Ability to drive the team’s agenda in large forums spread across various locations.

– Good influencing and negotiation skills and excellent communication and interpersonal skills.

– Displays enthusiasm, initiative, and diligence.

– Opportunity to be groomed to be future leaders, where there will be expanded remit for future growth.

– Works well in a team with high standards for team work

Updated: June 23, 2018 — 9:45 am
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